After a relatively calm trading day during yesterday’s voting activities, the broader markets show some energy in today’s futures session in the premarket. Nasdaq futures jump more than 1%, reaching a high of more than a 100-point move before 05:00 EST. The Dow, S&P, and Russell share almost identical price action in the premarket. Also key to note, the Fed begins its FOMC meeting today for a decision release tomorrow afternoon. Economic Outlook has crude inventories scheduled for today.
Premarket volume check showing a ton of strength across the board. NQZ18, GCZ18, CLZ18, and 6EZ18 all well above the 100k of volume mark. Traders must be feeling very positive today as all of the aforementioned futures contracts are trending bullish with strength. GC, CL, and 6E began their run in the European session hours. Could be an interesting day after the opening bell.
Stay calm, plan the trade, and trade the plan.
No trades today. Price action was too choppy during my trade time although I could have taken some trades.
Election day is upon us and things seem pretty calm in the premarket. Nasdaq futures taking a bit of a rest after a 40-point selloff in the European market hours. Economic Outlook shows jobs report scheduled for 10:00 EST. Also, another day of earnings with some retail and fast food companies that could bring some decent volatility in the market if traders are not too busy casting their votes.
Premarket volume check showing pretty much the same story as yesterday with CLZ18 once again being all alone before the 100k of volume mark. GC currently up +0.35 percent with a strong bullish move in the European session. CL and 6E pretty much trading sideways. From a technical standpoint, CL bounced off yesterday’s low, looking to retest previous short-term support.
Now with earnings calming down, still a pretty busy week ahead with something scheduled every day for the Economic Outlook. The main things to be aware of this week are U.S. midterm elections (#TrumpTweets) and another Fed day Thursday with rate news at 14:00. Oil also in the spotlight with headlines about Iranian sanctions.
Premarket volume showing relatively normal activity with CLZ18 all alone over 100k of volume. Price action looking to be returning to normal with GC and 6E trading sideways in a tight range. CL also trading sideways but with a wider range of about 50 ticks. NQ slowly climbing bullish since the open of today’s session, up +0.15% before 08:00 EST.